Click counts 55 serviced office providers in Dublin, with just five — WeWork, Regus, Iconic, Glandore and Pembroke Hall — accounting for 55% of the market.

WeWork opened four serviced office centres in Dublin in 2018: one in North Wall Quay, one in George’s Quay and two on Harcourt Road. The North Wall Quay space is the largest in Dublin, with six floors and space for over 2,000 desks.

Workspace accelerator Huckletree arrived in Ireland late in 2017, while TalentGarden established a partnership with DCU to join its Alpha Innovation Campus, providing serviced flexible workspace for 350 people.

The average monthly price of a desk in Dublin is c. €500 per desk (with one desk equivalent to approximately 50 sq. ft. of space), while desks at the lower end start at €300. Desks in many of the larger, more modern spaces start from €650 per month.

Broker Shane Duffy said: “The increased appetite for flexible workspace is not surprising when you look at the way we work today. Companies want short-term, fluid agreements which allow them to upscale or relocate rapidly.

“Not only that, they want to move in quickly and have all facilities provided for them on arrival. That’s why we’re now seeing large multinationals such as Facebook and Microsoft opting for flexible workspace in the city. It’s no longer just startups or SMEs that are looking for this option.”

WeWork plans to open two new office spaces in Dublin city centre this year, bringing its capacity to more than 8,000 desks. Iconic Offices and Pembroke Hall have also announced new centres for this year, while Regus intends to increase its network of locations from 14, having launched 34,000 sq ft of additional space last year.